Resonance

Joakim Vars Nilsen

Trust in people you know or online consumers you don´t have increased significantly.

When it comes to traditional, paid media, while nearly half of consumers around the world say they trust television (47%), magazine (47%) and newspaper ads (46%), confidence declined by 24 percent, 20 percent and 25 percent, respectively, between 2009 and 2011. Still, in 2011, overall global ad spend saw a seven percent increase over 2010, according to Nielsen’s most recent Global AdView Pulse. This growth in spend was driven by a 10 percent increase in television advertising.


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Your most loyal customers are not your most valuable ones.

A customer´s full value should include a measure of that person´s abillity to bring in profitable new customers.

According to V.Kumar, Petersen and Leone these customers are NOT your most loyal customers. In other words, your most loyal customers are not your most valuable ones.
More takeaways from http://weigend.com/files/teaching/haas/2008/readings/KumarWordOfMouthHBR2007.pdf :
-  A corporation that accurately targets those of its customers who are likely to make profitable referrals will earn a better return on its marketing investment than its competitors that do not.
-  Identify the behavior (not what they say,) and value of your customers and divide them into affluents, champions, advocates and misers.
-  Create targeted marketing that create more refferals by affluents, more purchases by adocates and more of both by misers.

Of course it´s important that focus is not only on increasing purchases, but also to make it easier for your customers to communicate positive information about your product/service. For CRM tactics this information is useful. But:

Yes, for growth, a brand needs to get more people to buy  - and buy more. And the brands that achives most growth are the ones who´s marketing efforts are focused on, and resulting in, getting more people to talk positivly about their product/service. Getting existing customers to market within their social networks is a smart thing to do – done right. But focus on simple refferals incentives towards existing customers alone is not enough. You need to focus on the whole market.

1. Start with getting at least 10% of your employees to become active advocates both in social media and offline. If you succeed with this you will create a tipping point for sustainable change.

2. Why should your employees advocate your product/service? Because you have identified an ideal -  a meaningful purpose for your brand. That both your employees and the market shares. This activates your employees, who will activate the market.

3. People don´t care that much about what you have to say about your product/service. The care about stuff they are interested in. So create interest plans with focus on making the lives of people better. Something that helps people, gives them beauty, serendipity,  give them stuff they did not know they wanted, amaze them, tell stories and entertain, give people the chance to help, help them meet new people, strengthen existing relationships, help them to be someone – to belong.

4. Based on this strategy:
Activate! Create different  - ongoing – solutions and find out what roles different tools (mobile, social, digital etc) can play in making this happen. (Social Media, Events etc)
...in 100% combination with
Advertise! Tell people what you do and with whom. ( TV, digital, in-store etc)

This means you should launch many solutions, measure and test live. Those that seems promising – advertise online/social. Those that deliveres according to business metrics – premium paid media scale. And here is the good part – brands are perfect for helping people express their identity , passions and plans. It´s TREMENDOUS opportunities for brands right now. Nail those interest plans!

The hard part? You need to do it. You need to create something that is experienced so meaningful that it becomes a social currency. Creative passion and excellence, break the rules, extreme humor, provoking cause, co-create, use of celebrities and/or unconventional use of media is needed. (according to IPA)

Do this and your product/service will be talked about and growth will follow.

I want more. Do you?

I want more.  

Like us, Follow us, + us, watch our Youtube video, Klout it, Pin it, AR this, QR that, retweet etc. Every brand is now more or less on social media. But I don´t get why 90% of them are. And what do they need likes and followers for? And more importantly why should we like or follow them?  

Watching TV, commercial break. 90% of TV commercials either talk about how insanly great the product is, or try to be funny.  Why should I buy your product? Because you make a boring sit-com in 30 sec? Because your roll-on is 12% bigger than your competitors?

People are not interested in brands. Only a few loyal fans are. And key for growth is getting more people to buy  - and buy more. Alas you need to communicate to people who are not really interested in your brand. Who really do not care about what nice things you can say about yourself be it on mass-  or social media.  

So why focus on building more and more Facebook likes and Twitter followers. Why create another TV commercial that focus on product feats or being a little bit more funnier than the others.

Why not try to instead focus on helping me with what I´m most interested in?

No, it´s not only about usefulness. It´s not only about creating digital solutions that help i.e runners to get better at running or airline passengers to book a seat next to a stranger based on similar interest through LinkedIn or Facebook. This is meaningful stuff. But I want more.

I want serendipity. I want stuff I didn´t know I wanted. I want to be amazed. I want to entertain. I want to click on cows. I want beauty. I want help. I want to help. I want to get to know new people. I want to strengthen my realtionships. I want to be someone. I want to belong.

Help me with this and you will resonate. You will create social currency. I will talk about you both on- and offline. I will talk to you. I will join you.

It´s not about advertising in massmedia or activating in social media. It´s not about mobile or tablets. It´s about why we are in the market. And what role those tools can play in making the life of the consumers better.

Maybe we should be in the business of helping people to listen to what their heart is saying they really want and help them with pursuing this. To be bold, find a purpose and lead together with the market.  Instead of creating irrelevant noise/tactical disguised participation/narcissistic introvert interactive/ psychopathic look at me rubbish marketing aimed at the self-interested individuals/sheeps in hope it will spread like the bird flue.    

For behavior to be contagious , it has to operate within a trusted network. Where you can only be invited in. It is the rest of us that will either adapt or reject what we encounter that really matters in the spread and ideas through populations. And the rest of us is 3 billion new participants in the media landscape.

To create a mass reaction. To earn a big share of popular culture.  To be talked about. Which is crucial for gaining market share. You need to do two things.

  1. Give people something to do and someone to do it with. Activate! (social media, events etc)
  2. Tell people what you do and with whom.  Advertise! (TV, digital, in-store etc)


But what´s most important is creative passion. The tools for conversations/stories, activation, is social media and advertising formats. But the criteria for success is what´s being made. It needs to be meaningful enough to become a social currency. So it needs to be based on what people are driven by.

Find a meaningful purpose. An ideal. Act on it internally. Start empower people by activating - and growth will follow.  

98x higher CTR from Facebook Newsfeed vs Ticker

Momentus Media analyzed 8 Facebook apps .

Comparing CTR
CTR (click through rate) shows how often people click on stories they see in feeds, so the calcuation is CTR = Clicks/Impressions. We see an average click rate of 0.03% for Ticker and 2.94% for Newsfeed.


Comparing Total Referral Traffic
We then analyzed how much traffic was sent from Newsfeed and Ticker. We totalled up all the Story Clicks for all apps. During the 30 day period, Ticker gave 562 clicks and Newsfeed gave 64,017. Newsfeed is sending 114x more traffic than Ticker.

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Notes
The apps we analyzed are not Open Graph enabled, so the only ticker stories they create are “App Used” stories, like this
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Stories like “Chris read Lindsay Lohan arrested!” could receive higher click rates. Additionally, “App Used” stories will only appear in the “Apps Ticker” which is shown while users are in the App Canvas. Open Graph created stories would appear on Facebook.com. Once we have an app with significant Open Graph stories created, we’ll do an analysis on this too.

Source: https://twitter.com/#!/Momentus_Med

4/5 most common weekly activities performed on consumer electronic devices are networkbased

And almost 2/3 of consumers are now downloading apps.

64% of 18-34 owns smartphone
46% of 35-55+

32% said they had stopped or almost stopped rentimg or buying DVD´s

64% download apps (out of these 49% have dowloaded apps at least once a week the past month)
Types of Apps used:
70 % Information (news, sports, weather)
60% Networking
58% Entertainment (music, games, videos)
55% Navigation

What do people do: Se image below.


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How to generate the next big ideas

If you can´t be a platform creator, become an experience creator.

Find the intersection of:
–    The next most immediate thing people want
–    The next most immediate thing you can provide

What is the next thing people trying to .....  need?

You’ll know you’re headed for digital disruption when you
- Build a digital bridge to your consumer
- Measure early, measure often
- Fail frequently, fail cheaply
- Partner promiscuously

Taken from the report: http://mcquivey.org/McQCES2012share.pdf